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Jan 20, 2013
01/13
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FBC
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if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying it is unlikely this public option is going to happen. but i'm gonna jump on this idea of funky mathematics. this hundred billion dollar plus number that is getting thrown around is from a 2009 congressional office report. and then in 2010 the number was more like $68 billion. two different programs. and i think that is the big issue with the public option. there are so many if's and questions about whether this would make money or lose money. one of the biggest things being whether subsidees will be involved. >> mike, let's just pull back for a second. when government ta
if you are truly a deficit buster, you actually should be for it. it is not going to happen. >> i will argue with the mathematics in a minute. morgan, the fact is that we knew we weren't going to get a full blown government-run health care system. we are going to inch our way into it. isn't that what is happening? obamacare what we saw passed a couple years ago was just the beginning of full blown government takeover health care. >> well, i do think rick makes a good point by saying...
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Jan 14, 2013
01/13
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he promised us a fully costed deficit reduction program, but we have had nothing. he promised us proper reforms of welfare, but we have had nothing, and he promised us that he would show how he would have a new policy on tuition fees, but we have had nothing. i have audited all of the government's spending programs and i have identified one where the waste is simply appalling -- the £5 million of short money that goes to the party opposite every year -- we get nothing from it. >> the more he rants and blusters, the less convincing he is. the facts are these -- he is cutting the top rate of income tax by an average of £107,000 for everyone earning more than £1 million in britain at the same time as he is raising taxes on everyone else. what do we know from this week? we know that he is a pr man who cannot even do a relaunch. halfway through this parliament, we know that the government are incompetent, that they break their promises and that the nasty party is back. >> it is perfectly clear what has happened since the start of this year. it is this government who
he promised us a fully costed deficit reduction program, but we have had nothing. he promised us proper reforms of welfare, but we have had nothing, and he promised us that he would show how he would have a new policy on tuition fees, but we have had nothing. i have audited all of the government's spending programs and i have identified one where the waste is simply appalling -- the £5 million of short money that goes to the party opposite every year -- we get nothing from it. >> the...
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Jan 16, 2013
01/13
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CSPAN2
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begin to to deficit reduction until you take a serious approach to welfare reform. on the side of the house we're doing it in a fair and responsible way. a way that rewards hard work. >> order. questions to the prime minister. >> number one, mr. speaker. >> thank you, mr. speaker. i'm sure the whole house will wish to join me in paying tribute to richard reginald walker, 28 engine regiment, attached to 21 engineer regiment. it is clear to see from the tributes paid that he was outstanding soldier and mutual respect. are deep assemblies are are with his family and his friends at this difficult time. mr. speaker, i would also like to mention helicopter crash in central london display but also central london display but also wish to join in sending our thanks to the emergency services for the rapid and professional response to the situation. mr. speaker, this point i had meetings with ministerial and colleagues and others, and in addition to my duties in the south i will have further such meetings later today. >> for too long many women and especially hard working stay
begin to to deficit reduction until you take a serious approach to welfare reform. on the side of the house we're doing it in a fair and responsible way. a way that rewards hard work. >> order. questions to the prime minister. >> number one, mr. speaker. >> thank you, mr. speaker. i'm sure the whole house will wish to join me in paying tribute to richard reginald walker, 28 engine regiment, attached to 21 engineer regiment. it is clear to see from the tributes paid that he was...
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Jan 21, 2013
01/13
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he tries to make the point that europe should somehow be moving off the policy of deficit reduction. he is completely isolated to your. there is not one single government, not even socialists in europe who believe that you should be pushing our borrowing and borrowing more. that is a simple truth. what is in britain's interest is to seek a fresh settlement in europe that is more flexible, more competitive. that is in our interest. that is what we will seek. but i have to ask him, i have to ask in this. doesn't he understand, doesn't he understand that what has happened over the last decade where a labour government signed a treaty after treaty gave away power after power for more centralization after more centralization? and never consulted the british people has what is made this problem such a big problem in the first place. >> our house in the country -- the prime minister do not after the question as to whether he is given the green light to his cabinet, his conservative members, to campaign some of them being in the opinion and some of them getting out. that is the reality of th
he tries to make the point that europe should somehow be moving off the policy of deficit reduction. he is completely isolated to your. there is not one single government, not even socialists in europe who believe that you should be pushing our borrowing and borrowing more. that is a simple truth. what is in britain's interest is to seek a fresh settlement in europe that is more flexible, more competitive. that is in our interest. that is what we will seek. but i have to ask him, i have to ask...
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current account deficit balloons is the u.k. heading for a currency crisis asks jeremy warner in the telegraph and he goes over the usual things of the deficit and all the debt they have but he knows that north sea oil has helped the u.k. economy avoid what would otherwise have been brutally imposed market reform in adjustment as recently as two thousand and one britain enjoyed a trade surplus in crude oil of nearly six billion pounds a year in two thousand and eleven the deficit was ten point seven billion pounds like a receding tide fast depleting north sea oil is exposing the underlying wreckage of the u.k. economy well gerry warner makes an excellent point now and economy has two components in its export market they've got the exploitation of services or they've got the exploitation of goods manufactured goods in britain has not exported had a net balance of exportation of manufactured goods since the nineteen eighties the entire economy sense that your has been built on basically services and what are these services they ar
current account deficit balloons is the u.k. heading for a currency crisis asks jeremy warner in the telegraph and he goes over the usual things of the deficit and all the debt they have but he knows that north sea oil has helped the u.k. economy avoid what would otherwise have been brutally imposed market reform in adjustment as recently as two thousand and one britain enjoyed a trade surplus in crude oil of nearly six billion pounds a year in two thousand and eleven the deficit was ten point...
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Jan 17, 2013
01/13
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FBC
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the president may not want to cut spending as part of the upcoming debt limit debate but it shows deficit reduction measures have increased and are about as standard in washington as a cherry blossom festival. i'm sure that you agree that? >> absolutely. i agree wholeheartedly with that assessment. that is why we need to have this discussion now. it is all the more appropriate for the president to be telling us we can't make any demands accompanying his request for yet another debt ceiling height. gerri: how did you react to the presence tone in that last press conference when he talked about his upcoming debt ceiling despite? he seemed a little angrier you guys. >> yes, he did. he seemed annoyed at the fact that he had to deal with a coequal branch of government. a group of pesky individuals elected by the people. >> yes, that's right. we have the audacity to insist that we follow the law and that we continue to make the law and yes, we have our work cut out for us. >> i was noticing that since 1990, we have raised the debt ceiling 18 times. back in 1990 come the first time we raised it,
the president may not want to cut spending as part of the upcoming debt limit debate but it shows deficit reduction measures have increased and are about as standard in washington as a cherry blossom festival. i'm sure that you agree that? >> absolutely. i agree wholeheartedly with that assessment. that is why we need to have this discussion now. it is all the more appropriate for the president to be telling us we can't make any demands accompanying his request for yet another debt...
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Jan 13, 2013
01/13
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jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow up, you voted early, i was watching the board. you voted early. you didn't vote to see if it was going to pass and then vote no. was the idea that obama kind of lost some leverage there that you wanted to see it fail because obama now has to go back to the debt ceiling and he doesn't have the benefit of tax cuts looming? >> i knew it was going to pass. after the republicans walked away from the negotiations and then tried to plan b by speaker republican speaker bane thear failed where republicans wouldn't support t
jobs deficit. and to me this bill simply put a band aid on the problem. it did do something the president wanted to do, committed to do. he delivered on the promise to try to help protect the middle class but my fear is that in these next 3 -- three political maneuvers we're going to see that people will start attacking the middle class and i believe that this was our best opportunity to really take care long term the issues that we need to address to a balanced approach. >> so to follow...
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Jan 20, 2013
01/13
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, or cut the deficit, at least. the president doesn't seem to be on that same page. >> yeah. look. republicans in the house and in the senate, for that matter, and the president i think so fundamentally disagree on the major issues of the day. i mean, so much so that i think common ground is very hard for them to find and will continue to be hard for them to find. the key thing to look for, john, and what people want to try to figure out, are things going to be different over the next two or four years, or do they at least start to show signs of wanting to negotiate deals where both sides are allowed to win? we have not seen that, whether you want to blame the president, whether you want to blame republicans. you just haven't seen that. they don't like each other. they don't get along well. there are no relationships there whatsoever, and that's why i'm skeptical that things will be different. and again, it kind of goes to the core of what they believe. they just don't agree on anything. i'd be shocked if they agree
, or cut the deficit, at least. the president doesn't seem to be on that same page. >> yeah. look. republicans in the house and in the senate, for that matter, and the president i think so fundamentally disagree on the major issues of the day. i mean, so much so that i think common ground is very hard for them to find and will continue to be hard for them to find. the key thing to look for, john, and what people want to try to figure out, are things going to be different over the next two...
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bit embarrassed about this whole episode he tried that he looks like a very tough guy he looks at the deficit in a lot of the cold respects however how tough you are but he tried not to tell anyone and eventually his wife found out through from journalists we managed to get hold of ourselves earlier here's what he had to say when i fell out i only had parents slippers and t. shirt i ran for seven kilometers i didn't curse money tap and i just saw the train was gone so i came quickly to my senses and started running so that i didn't freeze i ran on the railway track for about twenty or thirty minutes when i go to the nearest station their eyes popped out after they saw a man with almost no clothes on women there quickly gave me tea and reported what just happened i didn't tell this to anybody my wife found out about the incident only after journalists called her. so i would imagine that he got a rather difficult phone call from his wife have to see found that he had been in the situation and trying to keep it secret from i was going to favor any fall out at home because the earth's any kind of
bit embarrassed about this whole episode he tried that he looks like a very tough guy he looks at the deficit in a lot of the cold respects however how tough you are but he tried not to tell anyone and eventually his wife found out through from journalists we managed to get hold of ourselves earlier here's what he had to say when i fell out i only had parents slippers and t. shirt i ran for seven kilometers i didn't curse money tap and i just saw the train was gone so i came quickly to my...
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Jan 14, 2013
01/13
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 13, 2013
01/13
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you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very aggressive cuts to services and earned benefits, you are not helping the economy grow. the jobs deficit, to me, is the biggest deficit we face. but we have a lot of other challenges. social security medicare are among bashar not among the most immediate challenges. if you ash social security and medicare are not among the most immediate challenges. we have paid some $15 trillion in payroll tax to take care of social security benefits. how much have we actually used in benefits received by all americans? $14 trillion. we have a one dollar trillion -- $1 trillion in cash. all the trillions of dollars we have paid t
you said the deficit we should focus on is the jobs deficit. >> is our biggest deficit, the jobs deficit. if you get people back to work, they are carrying -- paying their fair share of taxes. the treasury is receiving revenue. if the treasury is renewing -- is receiving more revenue, the deficit shrinks. we can grow the economy. the best way to do that is to put american, middle-class workers back to work. to me, every time you talk about stifling the economy through these very...
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Jan 18, 2013
01/13
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CSPAN2
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we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global downturn. we also have an important and urgent need to address the issue of energy independence, an opportunity that more than ever before is sitting right in front of us ready to be advanced in the next year or two. but again, it requires leadership and initiative in washington and immigration reform, again, a subject that was discussed before. one more word, finally, about the process. and for this i kind of go back to a much earlier part of my life when i was a professor or of law at columbia, and one of the summits i taught -- subjects i taught every year was negotiation, negotiation in a varie
we have an education deficit, we have a skill development deficit that is closely related to education, we have an infrastructure development and repair deficit of e enormously important proportions, and you need only look at the experience of other countries coming out of the recession including countries with very different political systems than ours to see the close relationship that infrastructure investment development has on the likelihood and the pace of recovery from a severe global...
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Jan 16, 2013
01/13
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WBFF
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taxeesafttr deficits of two billion dollarsin recent years...the governor telll &preporterss..the worst is over. his says his operating and capptal budgetswill accelerate - a variety of consttucttonn-3 43-thousandjobs..- 3 (governor) "so everything about his budgee we examine throuuh the lens of whht will this meen for accelerating maryland's jobs reeovvrr and geeting more of our eople work."but the governor reffsed to ssy whether he wwll seek a hike in eithertheesales tax or gas tax...to payfoorhhghways and mass transitt 3 maayland officials labee thhs pear's inffuenza as 'wideepread.' ''idesppeed.'paul gessler protect yourself with a flu shot.paul-- & 3 itts onee hing to hear these pleas from health officials... but, i talkee to a family who paiifully knows all too welll.. how serious the flu pan be..--3 be. 3&pkrista respass, mother:"in every room, theee's a piece of jonah here, too."flu seasoo hits the espass family harder than most.krista: "you cut his hairr nd he looks like a baby again."their son, jonah, died five yearr ago.krista 3 sudden cardiac arrest, as a reeulttof the flu--
taxeesafttr deficits of two billion dollarsin recent years...the governor telll &preporterss..the worst is over. his says his operating and capptal budgetswill accelerate - a variety of consttucttonn-3 43-thousandjobs..- 3 (governor) "so everything about his budgee we examine throuuh the lens of whht will this meen for accelerating maryland's jobs reeovvrr and geeting more of our eople work."but the governor reffsed to ssy whether he wwll seek a hike in eithertheesales tax or gas...
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Jan 16, 2013
01/13
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deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal retiree who have 50% longer retirement than encouraging 1895. so this is a serious issue. currently the social security retirement is a pay-as-you-go system that provides for and no benefits and tax collects. this will lead to insolvency, particularly with the increasing number of baby boomers retiring every day is referred to by maia and lewis. others news, nor do i have the program make expertise necessary to suggest solutions, it's important that congress and allies acceptable methods to assure that these programs to retirees. reforms
deficit now exceeds 100% of debt gdp ratio. so we may be experiencing the initial tax of extended deficit financing. the longer-term problem is to a very large extent a product of key entitlement programs that are an important part of the nation's safety net for the elderly. the growth of spending in the nation's entitlement programs can help a program secure for current and future workers than we think that's very important. by 2035, there will be only two workers per beneficiary to 60 federal...
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very high debt and combined with high deficits and i do there's a large part in the great shock of the recession the. global slowdown starting in two very sweet and they really became a big target now. it isn't the creation of the euro. cars the problem so much because before the euro came into being countries where they clearly had a hundred three percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they let there's a lack of fiscal discipline all in a movement to the left in europe big spending and on. social projects that. couldn't keep going it's no longer now europe also has a static population in some cases to declining population and so you have more. people more pensions bills to pay and fewer people to work to pay them you know that it's a pretty big problem when the shot came but when you talk about dadt i mean there are i think two points to make because first of all has always been plagued with debt. reg its budget deficit in order to qualify so maybe it's not the death but what was it
very high debt and combined with high deficits and i do there's a large part in the great shock of the recession the. global slowdown starting in two very sweet and they really became a big target now. it isn't the creation of the euro. cars the problem so much because before the euro came into being countries where they clearly had a hundred three percent. g.d.p. ratios and greece greece had two hundred ten percent belgium had. one time in one thousand nine hundred forty five percent so they...
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Jan 18, 2013
01/13
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CNBC
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there is an issue with respect to fiscal deficit. where we saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very good revenue comes from india gee of fee. but some of those moves that will happen by the government and therefore the decision for investment and therefore there is a little bit of uncertainty. that is a big reason why we have given a guidance of .5% to 3% in large range. >> suresh -- >> based on the deal plan that we have, we feel that -- what? >> so just to be clear, you're basically saying just so people know what we're talking about, the guide kwans for the current quarter was between 1.2% and 3.5%. you came in at 2.4% revenue growth. your guidance for the next period
there is an issue with respect to fiscal deficit. where we saw the debt ceiling. so if that were to get into any kind of a logjam, not getting results, there can be some amount of sentiment that can impact us. and impact the customers and, therefore, to us. similarly in india, you look, the budget is going to come up in february. worry seeing further moderation in interest rates. but we still do not know, because quarter four tends to be a very good quarter. we have concern because we have very...
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Jan 15, 2013
01/13
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. >> ironically would probably increase our deficit. it is absurd. >> the president won't back down on the debt ceiling or on gun safety. >> the pressing issue of gun reform. >> exactly one month after the tragedy at sandy hook. >> if there is a step we can take that will save even one child we should take that step. >> gun violence continues to wreak its deadly toll each day. >> this is a moment to act. >> congress is incapable of passing an assault weapon ban. >> everybody is totally upset by it. >> what makes sense? what works? >> this is a moment to act. >> this is a promise to turn the conversation into actions. >> if there is a step we can take that will save even one child, we should take that step. >> the lecturer in chief returns to the east room of the white house today to explain something to congressional republicans that previous presidents have not had to explain to congress. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more s
. >> ironically would probably increase our deficit. it is absurd. >> the president won't back down on the debt ceiling or on gun safety. >> the pressing issue of gun reform. >> exactly one month after the tragedy at sandy hook. >> if there is a step we can take that will save even one child we should take that step. >> gun violence continues to wreak its deadly toll each day. >> this is a moment to act. >> congress is incapable of passing an...
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Jan 19, 2013
01/13
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CNNW
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that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the bills that are already incurred by your democratically elected congress. now that we've hit the debt limit, exceeded it a little bit, the treasury has two options. they can fiddle around with $200 billion the way you would if you're a little short on your monthly bills, paying some now, refinancing a little bit. that would get us through mid-february to early march. once that stops working the treasury needs to rely on the cash it has on hand and the revenue that comes in each day from taxes. problem is there isn't alw
that is the deficit. you take the sum total of those annual deficits and enter oast on them and that creates the national debt which right now is about 16.4 and change trillion dollars. now, the u.s. treasury is empowered to borrow money to make up the shortfall between revenue and expenses, the deficit. but only up to a certain limit. that's the debt ceiling. treasury does not make decisions about how the money is spent. they are simply empowered in this case to write the checks to pay the...
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Jan 15, 2013
01/13
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CSPAN
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it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it is not as concerning as it was when you raised the term initially? >> as i said, the fiscal cliff, if al
it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that...
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Jan 16, 2013
01/13
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CSPAN2
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the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right. i think that makes it very difficult to handle the problems that we have before us. let me comment briefly on where we are. you offer the president yesterday. we have had spending cuts of a trillion and a half dollars. it comes from the budget control act. we have a trillion and a half of spending cuts. essentially in terms of deficit reduction, and has over 600 billion. the account interest, we have essentially of a deficit reduction of $2.5 trillion. the president set a goal of an additional $1 trillion in deficit reducti
the deficit is much greater. when i think of the ways and means committee, would change their has been in the composition. the ranking member at a time when i started went to the world bank. i worked with bill on trade. he was handling the tax material mainly. and bill was working on health care at the time. i think a second major change is very much effective today and affects us today. it is this change in composition of the republican party. i think it has moved very much more to the right....
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Jan 15, 2013
01/13
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MSNBCW
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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Jan 16, 2013
01/13
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it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that it's not as concerning as it was when you raised that term initially? >> as i said, the fiscal cli
it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that...
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Jan 15, 2013
01/13
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CNBC
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the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest part of the budget and the fastest growing part of the budget. it also, the $1.2 trillion is in the bank because of the discussions we had two years ago. >> you think the democrats would not see that as a credible threat? they would say go ahead, let the sequestration kick in? >> well, i think democrats and republicans alike would like to alter the way the sequestration works. but i hope that nobody's talking about not making good on our commitment to reach the $1.2 trillion. i'm certainly not. and those of us who are concerned on the across-th
the problem is that was the last deficit increase. the $1.2 trillion is sort of already in the bank. the credit agencies, by the way, assume we're going to make those cuts. so if you're suggesting that we do additional sequestration on the smaller part of the budget, the 38% we talked about, domestic discretionary, i suppose that's one way you could go. but, it ignores the fact that we've got this bigger part of the budget that's more politically sensitive, but has to be dealt with. the biggest...
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Jan 15, 2013
01/13
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KQED
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spencer michels asks california governor jerry brown if his fiscal turnaround-- from a $27 billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
spencer michels asks california governor jerry brown if his fiscal turnaround-- from a $27 billion deficit to a balanced budget-- offers a lesson for the nation. . >> you have to make tough choices. you have to live within your means. that means you have to not do everything you want to but you also have to raise more
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Jan 18, 2013
01/13
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CSPAN
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he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal that has become the defining memo for the effort to try to get that is under control. bob zoellick is fond of quoting a friend of his, the foreign minister of australia. we met a few months ago who said to him the united states is one debt deal away from leading the world out of fiscal chaos and disruption. we are. we truly are. we are a nation on the brink of massive economic expansion. from the place that can't is from, north dakota, you see the change in the paradigm on energy. we will go from importing country t
he is a deficit hawk. more important than that he is a thoughtful and conscious -- voice of a conscious for the senate throughout his term on fiscal responsibility. we worked together in a very effective way to try to bring some sort of bipartisan effort into the requirement that we do something about the debt. it was really, as was mentioned, an idea that we came up with on a long plane ride i think to central america to put together a commission that then threw into the simpson bowls proposal...
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Jan 17, 2013
01/13
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CSPAN
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you have the looming federal deficit, but you also have this deficit in infrastructure. what it takes to sustain mobility, the economy, society. we can't ignore one by taking care of the other. there has to be a package deal. the simpson-bowles commission recognized it had to be part of the package. you have to demand that transportation be part of this overall solution that is put together and get into whether ideas have a better chance of enactment. but what our stance is, if you simply go to the republican caucus and say, let's raise taxes, they'll throw you out of the room. but if you go to them with a proposition, can we reduce the deficit of $150 billion? can we make the program pay its own way and can we sustain jobs and the solvency of the highway trust fund all in one, i think we'll have something to go on. again, thank you so much for the cary award. we value this and i appreciate the recognition and we want to commitment our -- continue our commitment to research and debate opportunity to share with you the thoughts on this idea. what you heard the secretary s
you have the looming federal deficit, but you also have this deficit in infrastructure. what it takes to sustain mobility, the economy, society. we can't ignore one by taking care of the other. there has to be a package deal. the simpson-bowles commission recognized it had to be part of the package. you have to demand that transportation be part of this overall solution that is put together and get into whether ideas have a better chance of enactment. but what our stance is, if you simply go to...
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Jan 15, 2013
01/13
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extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a very serious issue. currently, the social security retirement is as a pay as you go system that provides more annual benefits than the payroll tax collects. if left alone, this eventually will need to insolvency, particularly with the rapidly increasing number of baby boomers who are retiring every day as was referred to by mya and louis. i don't have the programmatic expertise to suggest the right solutions, but it's important to analyze the acceptable message to assure that these programs can be available to future retirees
extended deficit financing. the longer term problem is to a very large extent the product of key entitlement program that are an important part of the nation's safety net for the elderly. slowing the growth of spending in the nation's entitlement program help make programs secure for current and future workers, and we think that's very important. by 2035, there's only two workers per beneficiary, and a typical 65-year-old retiree, has a 50% longer retirement than occurred in 1995. this is a...
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Jan 14, 2013
01/13
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CNNW
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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i think it's something here because there is this deficit in russian society there are many poor people still here people have been pulled out of poverty yes but there are still huge divisions in this country that hinders an identity. issue we can help bring the country there's a lot of black holes throughout russia when we're basically talking all the time about moscow but russians are right very huge country peter and i have traveled russia a lot and we've seen these places you know. and they're kind of stuck with whatever moscow decides they're stuck with that decision so they don't really have a place in the entire nationalism of the country of that pride they hear what moscow is doing over there and they're kind of left over on the sidelines they need to be involved more. interesting is when i was in lot of a stock for apec and that was a very different russia. was really quite refreshing because it was very conservative out there very patriotic extremely patriotic i was really impressed and the amount of money they put into investing it and that was kind of a branding rebranding o
i think it's something here because there is this deficit in russian society there are many poor people still here people have been pulled out of poverty yes but there are still huge divisions in this country that hinders an identity. issue we can help bring the country there's a lot of black holes throughout russia when we're basically talking all the time about moscow but russians are right very huge country peter and i have traveled russia a lot and we've seen these places you know. and...
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Jan 16, 2013
01/13
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guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we have never tried that before. host: is it feasible? guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills you pay? we never tried that. i think the president put it so well. this is not a dead beat nation, really. i think common sense is likely to prevail within the republican ranks. i know firsthand, second-hand, but much of the leadership within the house republican caucus, some of them realize the potential consequences. host: if president obama won on the fiscal cliff de
guest: we have had some deficit reduction. as the president laid out a couple days ago, we have had over $2 trillion. we had 1.5 trillion that came from previous actions. and then we added just a few days ago some further deficit reductions through some increased taxes on the very wealthy of this country. so we have already begun to undertake a deficit-reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others....
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Jan 18, 2013
01/13
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FBC
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for decades this state has been running high deficits, spending, spending and spending, overborrowing and running the government programs. so you have a bunch of bad numbers. the sad part is a retired politicians look at the numbers in a lawyer they think the solution is more taxes, more spending and more government. we are trapped in a virtual circle. stuart: what is the direct link between a very active government that spends big and goes biggin to debt? show me the direct connection between that the high poverty level. >> best way to look at this is see what is happening with people leaving a little. lenore loses one person every ten minutes to other states. people are leaving companies don't want to come, they're scared of coming to illinois, much death and you can't blame them for being scared. they don't want to pay more taxes or interested that has more poor people. they want to move states that are dynamic, cutting taxes. look of other states with zero tax rates, they want to move to dynamic economies. stuart: diana workers leave and dynamic companies that want to hire do not
for decades this state has been running high deficits, spending, spending and spending, overborrowing and running the government programs. so you have a bunch of bad numbers. the sad part is a retired politicians look at the numbers in a lawyer they think the solution is more taxes, more spending and more government. we are trapped in a virtual circle. stuart: what is the direct link between a very active government that spends big and goes biggin to debt? show me the direct connection between...
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Jan 15, 2013
01/13
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MSNBCW
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fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first. then i want to ask a question. >> as climate change threatens the world we leave to our children and good u.s. jobs move overseas, time in the senate ticks by. it keeps ticking by with no results. because the system is broken. but we can fix it. and make the senate work for us again. >> people are stunned when they find out it was not majority vote. that one senator can just stop the process. is it your hope and the hope of cwa that when you do ads like this that the public will put pressure on their senators to reform this and just make it fai
fiscal cliff, deficit, every single issue. the president's bills never go on the floor of the senate. there are bills that mcconnell agrees to before they reach the floor. because otherwise they can't proceed. one of these reforms that senator merkley talked about is just no more motion to proceed. the majority leader can put a bill on the floor. this is out of control. >> now, let me show you your union's advertising campaign against the filibuster. and let me just show you that first....
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Jan 21, 2013
01/13
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FBC
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david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think you have to think of this inaugural as having messages for both republican opposition and also his own base. i think the message to republicans was look, i have an agenda for a second term. it is going to include some things we didn't get around to like climate control in the first term because we were dealing with an economic crisis, and to his base he's saying look i'm not going to give in, i'm not going to cave because he's under some pressure from the left from people who say you have given up too much, you haven't talked about the poor enough. david: there are other democrats who are say
david: so will america have to learn to live with the european-sized deficit? let's ask gerry seib, the "wall street journal" political editor. first of all, why are you here in new york when the inauguration is in d.c.? >> too much insanity down there. david: all right. he made a reference to the deficit but immediately followed that reference with a big but, he said we have to cut the deficit but we need to continue to spend more money for a bigger government? >> i think...
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Jan 17, 2013
01/13
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CSPAN2
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we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a deficit, an important urgent need to address the issue of energy and independence and opportunity that's sitting right in front of us ready to be advanced in the next year or two, but that requires leadership and initiative in washington and immigration reform, again, the subject that was discussed before. one more word, finally, about the process. for this, i go back to an earlier part of my life as a professor of law and one of the subjects i taught every year was negotiation. negotiation of a variety of contacts from international to commercial and transactional to labor management dispu
we have an education deficit. we have skill development deficits closely related to education. we have an infrastructure development and repair deficit of e mori nows -- enormously important pace of proportions, and look at other countries from the recession and countries with very different political systems than ours to see the close relationship that infrastructure investment and development have on the likelihood and pace of recovery from a severe, global downturn. we also have, if not a...
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Jan 14, 2013
01/13
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KQED
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on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions r
on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal...
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Jan 14, 2013
01/13
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KRON
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and ashley added to the deficit. it should not be surprising giving all this talk that washington is hurting rather than helping the country at the moment. they see our representatives and sound with partisan brinksmanship over paying our bills. they overwhelmingly want to focus on growing the economy and creating more jobs. let us finish this debate. give our businesses and the world of the certainty that our economy and reputation are still second to none. we pay our bills, we have all our business and we move on because america has a lot to do. we had to create more jobs and boost the wages of those who have worked. we have to reach for energy and independence we have didn't reach for our immigration system we have to give our children the best education possible and protect them from the horrors of gun violence. let me say i am grateful to vice-president joe biden for his work on this issue of gun violence and for his proposals which i will be reviewing today. i will address of the next few days. with that, i wil
and ashley added to the deficit. it should not be surprising giving all this talk that washington is hurting rather than helping the country at the moment. they see our representatives and sound with partisan brinksmanship over paying our bills. they overwhelmingly want to focus on growing the economy and creating more jobs. let us finish this debate. give our businesses and the world of the certainty that our economy and reputation are still second to none. we pay our bills, we have all our...